SBI Card & ICICI Bank Revises Credit Card Rules: Check What’s In The Box

SBI Card and ICICI Bank, two of the nation's largest credit card issuers, respectively changed a number of their credit card regulations. The start of 2024 saw the implementation of these new regulations. These are the upcoming modifications to the ICICI Bank and SBI Card credit card features and charges.

SBI Card Credit Card Rules

According to the official website of SBI Card here are the latest revisions on credit card rules effective from 2024.

• W.e.f. 01 Mar 2024, issuance of physical card for DreamFolks Membership will be discontinued. AURUM Cardholders can visit aurumcreditcard.com or SBI Card Mobile App to avail DreamFolks Membership benefits.

  
• W.e.f. 15 Mar 2024, Minimum Amount Due (MAD) definition will be as follows: Total GST + EMI amount + 100% of Fees/Charges + 5% of [Finance Charge(if any) + Retail Spends and Cash Advance (if any)] + Overlimit Amount (if any). In case 5% of (Finance Charge + Retail Spends and Cash Advance) is less than Finance Charges, then MAD calculation will be Total GST + EMI amount + 100% of Fees/Charges + 100% of Finance Charges + Overlimit Amount (if any).
• W.e.f. 01 Apr 2024, accrual of Reward Points on Rent Payment transactions will be discontinued for certain credit cards.

List of SBI Credit Cards where Reward Points will not be applicable on Rent Payments w.e.f. 01 Apr'24:

• AURUM
• SBI Card Elite
• SBI Card Elite Advantage
• SBI Card Pulse
• SimplyCLICK SBI Card
• SimplyCLICK Advantage SBI Card
• SBI Card PRIME
• SBI Card PRIME Advantage
• SBI Card Platinum
• SBI Card PRIME Pro
• SBI Card Shaurya Select
• SBI Card Platinum Advantage
• Doctor's SBI Card
• Gold SBI Card
• Gold Classic SBI Card
• Gold Defense SBI Card
• Gold & More Employee SBI Card
• Gold & More Advantage SBI Card
• Gold & More SBI Card
• SimplySAVE SBI Card
• SimplySAVE Employee SBI Card
• SimplySAVE Advantage SBI Card
• Gold & More Titanium SBI Card
• SBI Card Unnati
• Shaurya SBI Card
• SimplySAVE Pro SBI Card
• Krishak Unnati SBI Card
• Vyapaar Unnati SBI Card
• SimplySAVE Merchant SBI Card
• Doctor's SBI Card (in association with IMA)
• SimplySAVE UPI SBI Card
• SIB SBI Platinum Card
• SIB SBI SimplySAVE Card
• KVB SBI Platinum Card
• KVB SBI Gold & More Card
• KVB SBI Signature Card
• Karnataka Bank SBI Platinum Card
• Karnataka Bank SBI SimplySAVE Card
• Karnataka Bank SBI Card PRIME
• Allahabad Bank SBI Card Elite
• Allahabad Bank SBI Card PRIME
• Allahabad Bank SBI SimplySAVE Card
• City Union Bank SBI Card PRIME
• City Union Bank SimplySAVE SBI Card
• Central Bank SBI Card Elite
• Central Bank SBI Card PRIME
• Central Bank SimplySAVE SBI card
• UCO Bank SBI Card PRIME
• UCO Bank SimplySAVE SBI Card
• UCO Bank SBI Card Elite
• PSB SBI Card Elite
• PSB SBI Card PRIME
• PSB SBI SimplySAVE

ICICI Bank New Credit Card Rules 2024

Airport Lounge Access:

"Starting Apr 01, 2024, you can enjoy One complimentary airport lounge access by spending Rs. 35,000 in the preceding calendar quarter. Spends made in the preceding calendar quarter will unlock access for the subsequent calendar quarter. To be eligible for complimentary lounge access in Apr-May-Jun, 2024 quarter, you need to spend a minimum of Rs.35,000 in the January-February-March 2024 quarter and similarly for following quarters," mentioned ICICI Bank on its website.

To comprehend the spending period and the lounge eligibility period of time please refer to the illustration below.

S. No.	Spend period	Lounge eligibility period
1	Customer spends Rs 35,000 between Dec 26, 2023 to Mar 25, 2024	Complimentary lounge access(es) between Apr 1, 2024 to Jun 30, 2024
2	Customer spends Rs 35,000 between Mar 26, 2024 to Jun 25, 2024	Complimentary lounge access(es) between Jul 1, 2024 to Sep 30, 2024
3	Customer spends Rs 35,000 between Jun 26, 2024 to Sep 25, 2024	Complimentary lounge access(es) between Oct 1, 2024 to Dec 31, 2024
3	Customer spends Rs 35,000 between Sep 26, 2024 to Dec 25, 2024	Complimentary lounge access(es) between Jan 1, 2025 to Mar 31, 2025

The following cards will be eligible for free entry to domestic airport lounges according to the revised criteria:

ICICI Bank Coral Credit Card	ICICI Bank NRI Secured Coral Visa Credit Card	ICICI Bank Coral American Express Credit Card
ICICI Bank Secured Coral Credit Card	ICICI Bank Coral Contactless Credit Card	ICICI BANK HPCL SUPER SAVER RuPay Credit Card
ICICI Bank LEADTHENEW Coral Credit Card	ICICI Bank Coral Rupay Credit Card	ICICI Bank MasterCard Coral Credit Card
ICICI Bank Expressions Credit Card	MINE Credit Card By ICICI Bank Visa Card	MINE Credit card By ICICI Bank Mastercard
ICICI Bank HPCL SUPER SAVER Visa Credit Card	ICICI Bank HPCL SUPER SAVER Master Credit Card	MakeMyTrip ICICI Bank Platinum Credit Card
ICICI Bank Manchester United Platinum Credit Card	Chennai Super Kings ICICI Bank Credit Card	Accelero ICICI Bank Credit Card
ICICI Bank Parakram Credit Card	ICICI Bank Business Blue Advantage Card	ICICI Bank MakeMy Trip Mastercard Business Platinum Credit Card

Dynamic Currency Conversion (DCC):

"Starting Feb 05, 2024, a DCC fee of 1% plus taxes will be applicable on each International transaction carried out in Indian currency at an International location or transactions carried out in Indian currency with merchants located in India but registered in a foreign nation. This change will apply to all ICICI Bank credit cards," ICICI Bank has mentioned on its website.

Rewards on Rent Payment and E-Wallet Loading:

The official website of ICICI Bank stated that "From Feb 05, 2024, rent pay and e-wallet loading transactions will not accrue any reward points. This change will not apply for Amazon pay ICICI Bank credit card.

Rewards on Utility Payments

"You will continue to earn reward points on utility transactions as offered on your card. Starting Feb 05, 2024, the government transactions will be included under utility payment transactions. This change will apply to all ICICI Bank credit cards," ICICI Bank has highlighted on its website.